Business
'Scare tactics' by bizmen behind Security of Tenure Bill veto
July 26, 2019, 6:11 pm
MANILA — The usually moderate Trade Union Congress of the Philippines (TUCP), touted as the country's biggest labor union, squarely placed on businessmen's shoulders the blame for the major setback in the enactment of the Security of Tenure Bill, also known as the "End Endo Bill." TUCP spokesman… Read More
China seen to still play a crucial role in PH future
July 26, 2019, 3:07 pm
MANILA -- China, the world’s second largest economy, is seen by industry stakeholders and administration officials to continue playing an important role in the Philippines' future, to the benefit of more Filipinos. This is amidst a second-quarter survey of the Social Weather Stations (SWS)… Read More
BSP issues risk management guidelines for investments
July 26, 2019, 3:04 pm
MANILA -- The Monetary Board has approved the risk management guidelines on investment activities of banks and quasi-banks (QBs), the Bangko Sentral ng Pilipinas (BSP) announced on Friday. In a statement, the Board said it has approved the guidelines during its meeting last July 11. The guidelines… Read More
Local markets bounce back in Thursday trading
July 25, 2019, 8:43 pm
MANILA -- The Philippine Stock Exchange index (PSEi) climbed to the 8,200-level on Thursday, while the peso ended the day stronger, partly due to hopes of unchanged domestic interest rates. The main equities index rose by 1.36 percent, or 110.69 points, to 8,272.18 points, which BPI Research said… Read More
PH economy to remain robust: IMF official
July 25, 2019, 7:26 pm
MANILA – An official of the International Monetary Fund (IMF) said the lender's 2019 growth forecast for the Philippines, which was slashed by 0.5 percentage points to 6 percent, remains among the strongest in the region. This was stressed by IMF Resident Representative to the Philippines… Read More
Maynilad spends P2.2-B for pipe replacement
July 25, 2019, 7:21 pm
MANILA -- West Zone concessionaire Maynilad Water Services, Inc. (Maynilad) is replacing some 312 km. of old and leaky pipes this year, in line with its program to reduce water losses and upgrade the distribution system, and will spend PHP2.2 billion to do so. The water concessioner said in a… Read More
Dominguez pitches PH economic boom to Kyushu bizmen
July 25, 2019, 7:06 pm
MANILA -- Finance Secretary Carlos Dominguez III invited businessmen from Japan’s Kyushu Economic Federation (Kyukeiren) to take part in the development of the Philippine economy, which the Duterte administration plans to further open up to foreign investments, the Department of Finance (DOF)… Read More
PH posts first innovation achiever position in GII ‘19
July 25, 2019, 5:20 pm
MANILA – The Philippines posted a big jump in the 2019 Global Innovation Index (GII) to 54th place from the previous year’s 73rd position as it catches up with world leaders, marking its first innovation achiever position. Based on this year’s report, which gathered data from 129 economies,… Read More
PH's capacity for innovation on the rise
July 24, 2019, 9:35 pm
MANILA -- The Philippines is steadily becoming more innovative as it faces the onslaught of domestic and global headwinds. In the latest Global Innovation Index (GII) report, the Philippines rose to number 54 in ranking, up nineteen notches from its previous ranking of 73 in 2018 and 2017. The… Read More
Dominguez discounts big spending for creation of new departments
July 24, 2019, 8:41 pm
MANILA – Finance Secretary Carlos Dominguez III does not expect the creation of new departments, which President Rodrigo R. Duterte called for in his fourth State of the Nation Address (SONA), to cost so much because existing offices will be utilized. The President called on Congress to hasten… Read More
Security of Tenure bill should be fair to employers, workers
July 24, 2019, 7:54 pm
MANILA -- The National Economic and Development Authority (NEDA) is pushing for revisions in the bill prohibiting labor contracting, noting the importance of investments in generating more jobs in the country. In a press briefing Wednesday, Socioeconomic Planning Secretary Ernesto Pernia said… Read More
TDF rises amid undersubscription
July 24, 2019, 7:42 pm
MANILA – The Term Deposit Facility (TDF) auction on Wednesday was undersubscribed but rates increased across-the-board. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the average rate of the seven-day facility improved to 4.5629 percent from 4.5640 percent during the auction… Read More
Peso holds ground, but local shares stumble
July 24, 2019, 7:08 pm
MANILA – Risk aversion ruled the trading floor on Wednesday after the International Monetary Fund (IMF) trimmed its global growth forecast for this year and 2020, affecting both the Philippine peso and the local equities. Amid the uncertainties, the local currency ended the day at 51.175, little… Read More
NEDA awaits DA's submission for proposed solar irrigation
July 24, 2019, 6:38 pm
MANILA -- The National Economic and Development Authority (NEDA) on Wednesday said it is still waiting for the Department of Agriculture (DA) to submit its proposal for the solar powered irrigation systems (SPIS) project, contrary to a report that the SPIS has already obtained the approval of… Read More
PH to be upper middle income country by 2020
July 24, 2019, 6:22 pm
MANILA – Socioeconomic Planning Secretary Ernesto Pernia on Wednesday said the Philippines will likely advance to an upper middle-income status in 2020 despite slower economic expansion in the first quarter this year. “We have set back by a year the likelihood of becoming an upper middle… Read More
AirAsia Philippines, Omni to train aspiring pilots for free
July 24, 2019, 6:16 pm
MANILA -- Aspiring pilots now have better chances of fulfilling their dreams for free, via AirAsia Philippines' Cadet Pilot Program. AirAsia Philippines inked a partnership with Omni Aviation Corporation on Wednesday, to provide up to two years of technical and leadership training to aspiring… Read More
Landbank vows to heed PRRD's directive to agri sector
July 24, 2019, 6:08 pm
MANILA – State-owned Land Bank of the Philippines (Landbank) on Wednesday said it will comply with the directive of President Rodrigo Duterte to submit before end-July 2019 a detailed report on its plans and program for the agriculture sector. Duterte warned Landbank that he will suggest the… Read More
Catanduanes abaca industry bounces back 3 years after 'Nina'
July 24, 2019, 5:36 pm
LEGAZPI CITY – The abaca industry in Catanduanes is now gradually bouncing back after its devastation when the island was directly hit by Typhoon Nina (Nock-ten) on Christmas Eve in 2016. Quoting data from the Fiber Industry Development Authority (FIDA) and the Philippine Statistics Authority… Read More
8-digit landline numbers in NCR to start in October
July 24, 2019, 2:36 pm
MANILA – Subscribers of major telco firms PLDT Inc. and Globe Telecom in the Greater Metro Manila area will have eight-digit landline numbers starting October this year. The initiative to migrate from the existing seven-digit format to eight digits is in compliance with National… Read More
‘Very big’ improvement in telco services by 2020: Rio
July 23, 2019, 8:54 pm
MANILA—Department of Information and Communications Technology (DICT) Undersecretary Eliseo Rio Jr. on Tuesday said Filipinos will feel a big improvement in telecommunications (telco) services nationwide come 2020. “Our program for 2020 is that before the end of next year, our people will feel… Read More
